“This is about access, and making sure local residents and people who work here have access to buy in those new projects as they open,” Robertson said, while cautioning the motion won’t solve everything plaguing the housing market.

“It may not have an impact on affordability directly, but it will give access to locals, I hope.”

The initiative is similar to one in West Vancouver where new projects would be marketed exclusively to local residents for the first 30 days, then to Metro Vancouverites for the next 60 days.

Under the policy, buyers would sign an agreement that they will live in the units and not flip them.

Bulk purchases would be restricted but details on how restricted have not been disclosed at this time.